• Singapore based Chinese National is the kingpin in the Instant Loan Apps Fraud: Cyberabad Police
  • We are probing into their source of funding: Mr. VC Sajjanar, Police Commissioner, Cyberabad Police of Telangana State
  • Police have identified 116 similar apps and wrote to Google to delete them. They also found another 700 to 800 similar apps existing on the internet space. They are also looking into them.
  • Celebrate New Year Quietly: Cyberabad Police 

Singapore based Chinese National is the mastermind in the Instant Loan Apps Fraud announced Mr. VC Sajjanar, Police Commissioner of Cyberabad Police. Addressing a press conference on Friday morning at Commissionerate office in Cyberabad, Mr. Sajjanar said, Cyber Crime Police of Telangana state raided a call centre "Cubevo Technology Pvt Ltd located in the Hyderabad city. According to him, it is headed by Chinese National, Zixia Zhang, who is currently absconding. According to the information available to the police, this Chinese national believed to be hiding in Singapore. 

Meanwhile, the police announced that they have arrested 4 members including another Chinese national. They have also seized two laptops and four mobile phones from their possession. They also seized a bank account with a balance of Rs 2crore in the account. 
Aniruddh Malhotra, Satyapal Khyalia, Yi Bai Dennis, Murathoti Richie Hemanth Seth the four accuses of Instant Loan Apps Gang

Zixia Zhang, along with Umapati and Ajay, developed 11 Instant Loan Apps and have been luring the innocent people into their trap.

The call centre Cubevo Technology which Cyberabad Police raided is set up by Skyline Innovations Technologies India Pvt Ltd. It has its ROC registered office at Gurgaon in New Delhi. Zixia, Umapati and Ajay are its directors. Zixia Zhang, a Chinese national and Umapati, a Delhi resident, are at large as of now. 

VC Sajjanar,Commissioner of Police, Cyberabad at press conference. Also seen Mrs Rohini, DCP Crime
The four arrested include Chinese National and Chief Operating Officer(COO) Yi Bai who is working as a Business Development Manager of Skyline Company; Satyapal Khyalia, a native of Rajasthan who helped Yi Bai set up new call centre TopFun Technologies Pvt. Ltd; another Rajasthan native Anirudh Malhotra who is sent to Hyderabad to manage a call centre, Best Shine Technologies Pvt Ltd and Murathoti Richie Hemanth Seth, a native of Kadapa district of Andhra Pradesh who is sent to manage call centre Cubevo Technologies.

All these six people have been operating Instant Loans at a higher rate of interest, harassing people, extracting unbelievable rates of interest and shaming defaulters.

The cyberabad police have so far registered 8 cases and investigating into the matter.

Police have shared the list of Instant Loan Applications with dubious credentials. They include Loan Gram, Cash Train, Cash Bus, AAA Cash, Super Cash, Mint Cash, Happy Cash, Loan Card, Repay One, Money Box and Money Box.

The list of call centres established by these fraudsters are Top fun Technologies Pvt. Ltd; Fasmate Technology Services Pvt Ltd both located at Gurgaon; Cubevo Technology Pvt Ltd and Best Shine Technology Pvt Ltd, both are being operated from Hyderabad.

It all started when police got a complaint from a person who googled lenders for his pressing financial needs. He downloaded the Instant Loan App and uploaded Aadhar and PAN card, self authenticated photo and 3 months bank statement as mandated. For a loan of Rs 2015 for 7 days, they deducted Rs 415 and disbursed Rs 1600/-. Soon after that, he received calls from different mobile numbers offering instant loans. On their persistent follow-up, he availed 1.20 lakh from 28 different instant loan apps. Even after paying Rs 2,00,000/- with interest as per their terms and conditions, he received abusive calls and threatening calls from their tele-callers. They blackmailed him with legal notices. Based on his complaint Police have registered a complaint Cr No. 1162/2020.

The investigations are on. National agencies are briefed accordingly. The police are also in touch with RBI. Enforcement Directorate people and others are in touch with Cyberabad Police.

Zixia Zhang with the help of his Singapore based company and the team has been operating their business for the past one year without any permissions neither from RBI, nor from District Collector who is authorized to grant licenses for money lending business locally. Hence, it is an illegal activity. We are confident of bringing culprits to the books and save the gullible and innocent people, said Mr VC Sajjsanar.

Meanwhile, Mr Sajjanar told people to be alert about such unscrupulous businesses. Don’t fall prey to unauthorized mobile apps, he cautioned them.

He cautioned people against loans being offered by unauthorised digital platforms, mobile applications promising a quick and hassle-free process. He advised the general public not to download any instant loan applications or apps. The Cyberabad Police have identified 116 Apps and wrote to Google to delete them.

According to their investigation team, they have also come to understanding that nearly 700 to 800 such instant loan apps seem to be existing. They are also looking into them. Mr Sajjanar has asked people not to get panic. They shouldn't hesitate to go to the police if they face any harassment from any such Apps in future. He gave a note of caution amid a major instant loan app scam being surfaced in the country with its multi-city network.

Mr. VC Sajjanar gave this advisory in the light of reports about individuals falling prey to growing number of unauthorised digital lending platforms/Mobile Apps or applications, all promising quicker, faster and hassle-free loans.

Legitimate loans can be offered by banks, non-banking financial companies registered with RBI and entities which are regulated by the state governments. People need to be vigilant more now than ever before. Even the media too must help people. The public must verify the background of entities which are offering easy, lucrative loans on various digital platforms, said Mr. VC Sajjanar.

We are looking deeper into their modus operandi and source of funding. We are confident of apprehending all the culprits involved in this fraud he said. And urged people to be doubly sure and verify before they download any new instant loan app or applications other than those who have licences from Government authorities.

He also advised people not to share personal and bank credentials to strangers. He advised people to go through the terms and conditions, especially those in smaller font. Verify their licenses, company background and credentials of the people behind such businesses.

Speaking about new year’s celebrations, Mr VC Sajjanar said that the Government of Telangana made it clear that no new celebrations, gatherings and parties are allowed. So accordingly no permissions are given to any events or celebrations. No mass gathering is allowed. No performances, no events are allowed. This includes parties organised in gated communities, colonies and local communities. They too are not allowed. He urged people to celebrate quietly and safely for the good of the society at large he said.


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